Venezuelan oil price drops to 6-month low
Sunday, 7 December 2008
CARACAS, Dec. 6 (Xinhua): Oil prices in Venezuela dropped to 34.49 U.S. dollars per barrel yesterday, the lowest since prices began to fall six months ago when a barrel cost as much as 129.54 dollars.
It meant a loss of 5.1 dollars from 39.59 dollars per barrel on Nov. 28.
On Friday, the oil price of the Organization of the Petroleum Exporting Countries (OPEC) closed at 43.12 dollars per barrel, while that of the West Texas Intermediate (WTI) was 48.23 dollars.
However, the yearly average was still 91.62 dollars per barrel, which was 26.88 dollars more than the 64.74 dollars of the 2007 yearly average.
It meant a loss of 5.1 dollars from 39.59 dollars per barrel on Nov. 28.
On Friday, the oil price of the Organization of the Petroleum Exporting Countries (OPEC) closed at 43.12 dollars per barrel, while that of the West Texas Intermediate (WTI) was 48.23 dollars.
However, the yearly average was still 91.62 dollars per barrel, which was 26.88 dollars more than the 64.74 dollars of the 2007 yearly average.